The Company reserved 3,000,000 shares of common stock under the 2014 Stock Incentive Plan with a term of ten years expiring in April 2024. This plan provides for the issuance of various forms of stock incentives, including among others, incentive and non-qualified stock options and restricted shares. As of June 30, 2021, there were approximately 1,379,950 shares available for grant.

Stock-based compensation for the three and six months ended June 30, 2021 and 2020 were as follows:


	Three months ended June 30,				Six months ended June 30,
(in thousands)	2021		2020		2021		2020
Pre – tax cost	$	571	$	581	$	1,124	$	1,157
After tax cost	$	446	$	453	$	877	$	902

The following is a summary of the changes in non-vested restricted shares for the six months ended June 30, 2021:


		Weighted
		Average
		Grant-Date
	Shares	Fair Value
Non-vested shares at December 31, 2020	678,220	$	12.89
Granted	189,750		16.55
Vested	(194,800)		10.25
Non-vested shares at June 30, 2021	673,170	$	14.69

The total fair value of shares vested was approximately $3,174,000 during the six months ended June 30, 2021 and approximately $3,331,000 during the six months ended June 30, 2020.

As of June 30, 2021, total unrecognized compensation cost related to non-vested restricted shares was approximately $8,986,000. This cost is expected to be recognized over a weighted-average period of 3.8 years.

For the six months ended June 30, 2021, approximately $304,000 of excess tax benefit for stock-based compensation awards was recorded as a discrete tax adjustment and classified within operating activities in the consolidated statements of cash flows compared to approximately $302,000 for the six months ended June 30, 2020.